Polus · RUS:PLZL

Polus — Polyus — FY2023 Earnings Presentation

14 slides from Polus's earnings presentation, February 2024

1. Slide 1: 2H & FY2023 Financial Results

   Ss POLYUS 2H & FY2023 FINANCIAL RESULTS

2. Slide 2: Disclaimer

   DISCLAIMER Ss PoLyus The information contained herein has been prepared using information available to PJSC Palyus at the time of preparation of the presentation, External or other factors may have impacted on the business of Polyus and the content of this presentation, since its preparation. In add

3. Slide 3: Ye POLYUS

   4, Ye POLYUS

4. Slide 4: Gold sold, revenue, TCC, EBITDA, capex by mine

   Gold sold, revenue, TCC, ebitda, capex, 2,908 5,436 389 3,889 1,040 20% y-o-y 28% y-o-y 25% y-o-y 51% y-o-y 7% y-o-y 7,339 7500 2,694 6500 5500 4500 3500 2500 773 762 1500 489 428 195 500 -500 Olimpiada Blagodatnoye natalka Verninskoye Kuranakh Alluvials 4

5. Slide 5: Cost structure and cumulative production by mine

   25% y-o-y 389 36% 17% 18% 15% 7% 4%4% Depreciation & Labour Consumables & MET fuel other amortization spares power 1,168 alluvials 490 599 389 kuranakh verninskoye 456 392 285 olimpiada blagodatnoye natalka Olimpiada Blagodatnoye natalka verninskoye Kuranakh Alluvials cumulative production, koz 5

6. Slide 6: Net working capital change FY22 to FY23

   inventories receivables Interest Income tax, Payables for Translation + payables net ppe non-ocf items 123 316 (25) (38) (11) (191) 1,823 1,649 Net wc FY22 Net wc FY23 6

7. Slide 7: FY2023 Capex

   19% olimpiada FY2023 Capex Olimpiada 21% Blagodatnoye Blagodatnoye 1,040 7% y-o-y Natalka 15% natalka kuranakh 13% kuranakh verninskoye 9% verninskoye 2% alluvials Sukhoi log 11% Sukhoi log 2% IT CAPEX ALLUVIALS 8% other1 7

8. Slide 8: Financial Position

   FINANCIAL POSITION

9. Slide 9: 2H2023/FY2023 highlights: cash position and debt

   2H2023/FY2023 highlights CASH POSITION & DEBT Gross debt net debt • $ $ • • 6,516 SHARE BUYBACK • • − 966 777 644 Events after the reporting date 55 GOLD BONDS ISSUE • EUROBONDS 2024 REPAYMENT • − − 9

10. Slide 10: Debt by source and interest rates

    by source 3.4 9.1 by interest rates 3.4 9.1 Eurobonds 32% 12% FIXED RATE 96% 84% 76% Bank loans 33% LOCAL bonds 35% 13% 16% Floating RATE 4% Public vs 24% private debt 67% 33% Average interest rate 4.2 6.0 76% 10

11. Slide 11: Slide 11

12. Slide 12: Peer benchmarking, dynamics at Polyus

       Peer benchmarking Dynamics at Polyus 12

13. Slide 13: Guidance

    GUIDANCE

14. Slide 14: FY2024 guidance

    FY 2023 2.7 – 2.8 450–500 1,550–1,700 FY 2024 • • • • • • • • 14

Polyus — FY2023 Earnings Presentation on 6ix